The rich people source of income are not gambling, they are only having fun with gambling, but the poor are not having fun with gambling but to to win is what they want. Which means the rich people are not desperate when it comes to gambling unlike the poor that want to hit a jackpot.
Those who are wealthy are not primarily in financial trouble and do not engage in gambling for money or, even if it is for money, do not usually face a situation in which they would control or stop themselves from gambling if they face gambling losses. Because they don't have financial problems, they don't feel any problem or ricks in gambling. On the other hand, those who are poor mainly gamble for moneyAnd if they fall into financial crisis for any reason, they are forced to refrain from gambling. Or poor gamblers cannot participate in gambling or are forced to abstain. In this case, it is easy to assume that since a rich gambler does not feel reticent to gamble, he must be more likely to profit from gambling than a poor gambler.
Topic: Why the rich win gambling more than the poor. - page 7. (Read 3724 times)
~snip~
No matter the financial status of a gambler, the majority of gamblers are gambling for profit. Even some rich people are gambling for profit and not for fun; after they lose, they will continue to chase losses just like other poor gamblers would. There was a topic created just about a week ago. The OP talked about a wealthy man who lost all his life fortune in three days. Also, just yesterday, I came across a new topic that talked about Drake, who lost $500k in gambling.The rich gamblers have the opportunity to win a huge amount because they also staked a huge amount, while the poor gamblers only staked the little amount they could afford, and therefore you can't compare the winnings that can be archived from those different amounts staked.
No matter the financial status of a gambler, the majority of gamblers are gambling for profit. Even some rich people are gambling for profit and not for fun; after they lose, they will continue to chase losses just like other poor gamblers would. There was a topic created just about a week ago. The OP talked about a wealthy man who lost all his life fortune in three days. Also, just yesterday, I came across a new topic that talked about Drake, who lost $500k in gambling.The rich gamblers have the opportunity to win a huge amount because they also staked a huge amount, while the poor gamblers only staked the little amount they could afford, and therefore you can't compare the winnings that can be archived from those different amounts staked.
The thing is that the famous people can turn a loss into a win because they can get marketing deals, they can basically sell their faces to get money.
They will make quick bucks by sponsoring a casino, it doesn't matter if they lose a million gambling, they will get paid more because they will bring more people to play in those casinos, therefore the casinos will end up winning way more money than the amount they pay the celebrity.
It's not every rich gambler who is a celebrity, a super star, or even a media influencer. Some of them are just investors, big business owners, and employees in a big company that pays a lot, so there is really no quick way for them to make back the money they have lost. It's not every rich man who knows how to sponsor a casino to make quick bucks. As I highlighted above, some of them are still passing through hard times to make the money, but when they get into gambling, they want to multiply their money, which they may or may not get lucky with, so they will keep trying luck until they win a huge amount. I know a few gamblers who like to bet $100 on a sports game, and they say they sometimes get a huge win before a week runs out.
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~snip~
No matter the financial status of a gambler, the majority of gamblers are gambling for profit. Even some rich people are gambling for profit and not for fun; after they lose, they will continue to chase losses just like other poor gamblers would. There was a topic created just about a week ago. The OP talked about a wealthy man who lost all his life fortune in three days. Also, just yesterday, I came across a new topic that talked about Drake, who lost $500k in gambling.The rich gamblers have the opportunity to win a huge amount because they also staked a huge amount, while the poor gamblers only staked the little amount they could afford, and therefore you can't compare the winnings that can be archived from those different amounts staked.
No matter the financial status of a gambler, the majority of gamblers are gambling for profit. Even some rich people are gambling for profit and not for fun; after they lose, they will continue to chase losses just like other poor gamblers would. There was a topic created just about a week ago. The OP talked about a wealthy man who lost all his life fortune in three days. Also, just yesterday, I came across a new topic that talked about Drake, who lost $500k in gambling.The rich gamblers have the opportunity to win a huge amount because they also staked a huge amount, while the poor gamblers only staked the little amount they could afford, and therefore you can't compare the winnings that can be archived from those different amounts staked.
The thing is that the famous people can turn a loss into a win because they can get marketing deals, they can basically sell their faces to get money.
They will make quick bucks by sponsoring a casino, it doesn't matter if they lose a million gambling, they will get paid more because they will bring more people to play in those casinos, therefore the casinos will end up winning way more money than the amount they pay the celebrity.
It's not every rich gambler who is a celebrity, a super star, or even a media influencer. Some of them are just investors, big business owners, and employees in a big company that pays a lot, so there is really no quick way for them to make back the money they have lost. It's not every rich man who knows how to sponsor a casino to make quick bucks. As I highlighted above, some of them are still passing through hard times to make the money, but when they get into gambling, they want to multiply their money, which they may or may not get lucky with, so they will keep trying luck until they win a huge amount. I know a few gamblers who like to bet $100 on a sports game, and they say they sometimes get a huge win before a week runs out.
The reason why rich people win more money than the poor is because the rich people do not pack games rather they just look for few game like 2-3 that will give them like 3-4 odds and then they will heavy stake it to win times 3 or 4 of their input while poor people will always go and pack games like 10-15 games so that they can get a big odds to play with their small money and we know that the chance of booming when you pack games is very low compare to someone who play 2-3 games. Morever, rich people play with the mindset of doubling their money while poor people play without any plan or target them just want to play to win big with the small money they are using.
~snip~
No matter the financial status of a gambler, the majority of gamblers are gambling for profit. Even some rich people are gambling for profit and not for fun; after they lose, they will continue to chase losses just like other poor gamblers would. There was a topic created just about a week ago. The OP talked about a wealthy man who lost all his life fortune in three days. Also, just yesterday, I came across a new topic that talked about Drake, who lost $500k in gambling.The rich gamblers have the opportunity to win a huge amount because they also staked a huge amount, while the poor gamblers only staked the little amount they could afford, and therefore you can't compare the winnings that can be archived from those different amounts staked.
No matter the financial status of a gambler, the majority of gamblers are gambling for profit. Even some rich people are gambling for profit and not for fun; after they lose, they will continue to chase losses just like other poor gamblers would. There was a topic created just about a week ago. The OP talked about a wealthy man who lost all his life fortune in three days. Also, just yesterday, I came across a new topic that talked about Drake, who lost $500k in gambling.The rich gamblers have the opportunity to win a huge amount because they also staked a huge amount, while the poor gamblers only staked the little amount they could afford, and therefore you can't compare the winnings that can be archived from those different amounts staked.
The thing is that the famous people can turn a loss into a win because they can get marketing deals, they can basically sell their faces to get money.
They will make quick bucks by sponsoring a casino, it doesn't matter if they lose a million gambling, they will get paid more because they will bring more people to play in those casinos, therefore the casinos will end up winning way more money than the amount they pay the celebrity.
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Activity: 770
Merit: 538
Leading Crypto Sports Betting & Casino Platform
Those who are wealthy are not primarily in financial trouble and do not engage in gambling for money or, even if it is for money, do not usually face a situation in which they would control or stop themselves from gambling if they face gambling losses. Because they don't have financial problems, they don't feel any problem or ricks in gambling. On the other hand, those who are poor mainly gamble for moneyAnd if they fall into financial crisis for any reason, they are forced to refrain from gambling. Or poor gamblers cannot participate in gambling or are forced to abstain. In this case, it is easy to assume that since a rich gambler does not feel reticent to gamble, he must be more likely to profit from gambling than a poor gambler.
No matter the financial status of a gambler, the majority of gamblers are gambling for profit. Even some rich people are gambling for profit and not for fun; after they lose, they will continue to chase losses just like other poor gamblers would. There was a topic created just about a week ago. The OP talked about a wealthy man who lost all his life fortune in three days. Also, just yesterday, I came across a new topic that talked about Drake, who lost $500k in gambling.The rich gamblers have the opportunity to win a huge amount because they also staked a huge amount, while the poor gamblers only staked the little amount they could afford, and therefore you can't compare the winnings that can be archived from those different amounts staked.
The rate of winning in gambling depends fully on the amount you use in staking the game,if you stake the game with a small amount,the money you will win won't be big,but you you stake it with a huge amount,the outcome will be one that will surprise you.And why the rich win more is simply because they don't play much games,they only play a little few they know it will play for them,and stake it with a very huge amount,this will increase their chances of winning.
But you that do not have much money,will look for a very long game,and stake with with small amount,which even if the game would have played,the longevity of the game will make some cut.
But you that do not have much money,will look for a very long game,and stake with with small amount,which even if the game would have played,the longevity of the game will make some cut.
It's like in poker, when a player with a small pot cannot afford to take risks several times. While the player sitting opposite him with a huge pot has freedom of action and can easily force a poor player to take a risk. Intimidate with potentially strong cards, bluff.
So in life and in the casino, a rich man can use the martingale strategy to get back his lost money.
The rich people source of income are not gambling, they are only having fun with gambling, but the poor are not having fun with gambling but to to win is what they want. Which means the rich people are not desperate when it comes to gambling unlike the poor that want to hit a jackpot.
Those who are wealthy are not primarily in financial trouble and do not engage in gambling for money or, even if it is for money, do not usually face a situation in which they would control or stop themselves from gambling if they face gambling losses. Because they don't have financial problems, they don't feel any problem or ricks in gambling. On the other hand, those who are poor mainly gamble for moneyAnd if they fall into financial crisis for any reason, they are forced to refrain from gambling. Or poor gamblers cannot participate in gambling or are forced to abstain. In this case, it is easy to assume that since a rich gambler does not feel reticent to gamble, he must be more likely to profit from gambling than a poor gambler. The rate of winning in gambling depends fully on the amount you use in staking the game,if you stake the game with a small amount,the money you will win won't be big,but you you stake it with a huge amount,the outcome will be one that will surprise you.And why the rich win more is simply because they don't play much games,they only play a little few they know it will play for them,and stake it with a very huge amount,this will increase their chances of winning.
But you that do not have much money,will look for a very long game,and stake with with small amount,which even if the game would have played,the longevity of the game will make some cut.
But you that do not have much money,will look for a very long game,and stake with with small amount,which even if the game would have played,the longevity of the game will make some cut.
There's no such thing as increasing their chances of winning.
The poor and the rich have the same chances of winning.
Imagine a coin toss, a rich person goes for heads and the poor person goes for tails.
They both have 50% chances of winning, independent of how much they bet.
The rate of winning in gambling depends fully on the amount you use in staking the game,if you stake the game with a small amount,the money you will win won't be big,but you you stake it with a huge amount,the outcome will be one that will surprise you.And why the rich win more is simply because they don't play much games,they only play a little few they know it will play for them,and stake it with a very huge amount,this will increase their chances of winning.
But you that do not have much money,will look for a very long game,and stake with with small amount,which even if the game would have played,the longevity of the game will make some cut.
But you that do not have much money,will look for a very long game,and stake with with small amount,which even if the game would have played,the longevity of the game will make some cut.
~snip~
Not sure if we have the same observation but we are just calling because they are winning hugely but the truth is poor gamblers also winning mostly but the problem is that they are not contented and yeah they wanted to win more and ending them losing everything instead of going home with small winning.
Not sure if we have the same observation but we are just calling because they are winning hugely but the truth is poor gamblers also winning mostly but the problem is that they are not contented and yeah they wanted to win more and ending them losing everything instead of going home with small winning.
Yeah, the thing is that poor or rich gamblers get the same probabilities.
The math behind it is the same for both of them
if the rich can lose 10x in a row so the poor can experience the same.
I have observed that the rich, I mean those who are financially comfortable, win more in gambling than the poor. By poor, I mean those who do not have enough to meet all their needs. I don't know the reason for this. Could it be that the rich understand financial management more? Or could it be that the rich are less desperate to win which make them make better gambling decision? I really want to know the reason for this pattern I have observed.
If you are rich and you have a gambling budget of $5k and you place a single bet of $100 and if you don't win, you always double your bet amount, then if you win 1, you will lose all your previous losses and make a lot of profit. And if you are poor and have a budget of only $100 then you will be afraid to place a single bet of more than $5. So you won't win much. Rich people are not afraid to take risks But the poor are too afraid to take risks. And we know no risk no gain. Because of this, rich people seem to win more gambling than poor peopleI have observed that the rich, I mean those who are financially comfortable, win more in gambling than the poor. By poor, I mean those who do not have enough to meet all their needs. I don't know the reason for this. Could it be that the rich understand financial management more? Or could it be that the rich are less desperate to win which make them make better gambling decision? I really want to know the reason for this pattern I have observed.
I believe there is a single pattern here. More affluent people have more money that they can fill, for example, a slot that will give a win sooner. If you take all gambling in general, the rich win more often just because they play more and for bigger amounts. I am 100% sure that not a single rich person who gambles a lot has ever come out in the black. These are big losses, but they won't hit a rich person. The rich man is all about the dopamine release when he wins, while the poor man wants money and thinks that this win will change his life for the better.
~snip~
We cannot suddenly agree that the rich are gambling than the poor. We need to be wise and make a decision that will help us win more nit trying to do it by all means. The rich can make huge profits from a single game where other are making some profits. The rich can decide to gamble with huge amount of money and we need to understand the differences. It is true that their are some rich people that gamble more than what they supposed but that does not mean that the rich are gamblers. Once we understand the differences why the rich will keep making big profit and the poor will keep making smaller profits.
We cannot suddenly agree that the rich are gambling than the poor. We need to be wise and make a decision that will help us win more nit trying to do it by all means. The rich can make huge profits from a single game where other are making some profits. The rich can decide to gamble with huge amount of money and we need to understand the differences. It is true that their are some rich people that gamble more than what they supposed but that does not mean that the rich are gamblers. Once we understand the differences why the rich will keep making big profit and the poor will keep making smaller profits.
It doesn't really matter how much the gamble amount is. All that matter is the odds for the bet.
The amount you get paid back (or you lost) is simply a multiplier of this.
So, it doesn't really matter if someone bet 1 cent or 1 million dollars, the odds are the same, and the payouts are proportional to this.
So, if you can make 1 cent while gambling, you should be able to become a millionaire gambling.
~snip~
A rich person who has a gambling habit wants to increase their net worth and they use their current money to get big jackpots. And those who are poor, especially those who are involved in gambling, want to change their financial situation a little. But in my opinion those who are vagabonds but poor are too lazy to work and instead of work they want to change their fortunes by gambling. By not working, they put pressure on the family for money and when the family refuses to pay for their gambling, the gambler abuses the family in various ways. But a person who works hard and has enough love for money will never be careless in gambling but he will think about gambling and then gamble.
A rich person who has a gambling habit wants to increase their net worth and they use their current money to get big jackpots. And those who are poor, especially those who are involved in gambling, want to change their financial situation a little. But in my opinion those who are vagabonds but poor are too lazy to work and instead of work they want to change their fortunes by gambling. By not working, they put pressure on the family for money and when the family refuses to pay for their gambling, the gambler abuses the family in various ways. But a person who works hard and has enough love for money will never be careless in gambling but he will think about gambling and then gamble.
A rich person that wants to increase their net worth will not gamble their money away.
I can guarantee you that. Just ask a rich person.
Not a poor or middle class person, but a rich person.
They will tell you that gambling is a waste of time.
I have observed that the rich, I mean those who are financially comfortable, win more in gambling than the poor. By poor, I mean those who do not have enough to meet all their needs. I don't know the reason for this. Could it be that the rich understand financial management more? Or could it be that the rich are less desperate to win which make them make better gambling decision? I really want to know the reason for this pattern I have observed.
sometimes if the appears to me that they reach people always try opportunity of getting more rich because them mentality is different from purpose why the Paul always like to protect whatever they have already so that is the difference between a rich person that is into gambling and a poor person that is into gambling the comparison is really distance because a rich person we have the momentum of buying lock why the poor person cannot summon such courage to at least that way like much or for his income or he's savings in respect of gambling 
Are there any statistics that can be used as evidence that the rich can win more than the poor? If not, then I will stick to my own rational belief that if we talk about opportunities then rich or poor have the same chances whether it is in terms of winning or losing, I'm not saying about the amount they will win because there is clearly a difference in budget allocation here where the rich may put the amount of $1000 in one bet while the poor only put $100 which means that if the two people are lucky then there will clearly be a difference in the amount of victory between the rich and the poor.
But that's not the point, the size of the budget at stake is in no way a guarantee of winning which means the rich can lose and the poor can also lose, so I think the issue of who will end the session with a win more often depends on how often they get lucky.
But that's not the point, the size of the budget at stake is in no way a guarantee of winning which means the rich can lose and the poor can also lose, so I think the issue of who will end the session with a win more often depends on how often they get lucky.
As you have said, the only difference is the amount staked. I believe even that some poor ones understand money management and also limit how they gamble, this believe or comparison is weird. It doesn't really matter both group loss and wins, same chance available, same game gambled.
Let's leave social class out of gambling, both rich and poor loss based on there level. Mehnn the the level of detestment poor people face keep increasing, no fact, record or proof to show, one will just conclude the poor loss more.
Gambling is a fair game with probability, anyone can win and individual variation is present irrespective of the class. So concluding is wrong.
Yes we have to remove the social aspect if we want to find the right answer about this, and the point is that rich or poor still have the chance to win and they also have the possibility to lose, there is no reason whatsoever to guarantee that one is superior to the other, as you said that gambling is a game of probability which means a game of "possibility", whoever is involved will end the session with one of two possibilities between winning or losing.
~snip~
A rich person who has a gambling habit wants to increase their net worth and they use their current money to get big jackpots. And those who are poor, especially those who are involved in gambling, want to change their financial situation a little. But in my opinion those who are vagabonds but poor are too lazy to work and instead of work they want to change their fortunes by gambling. By not working, they put pressure on the family for money and when the family refuses to pay for their gambling, the gambler abuses the family in various ways. But a person who works hard and has enough love for money will never be careless in gambling but he will think about gambling and then gamble.
A rich person who has a gambling habit wants to increase their net worth and they use their current money to get big jackpots. And those who are poor, especially those who are involved in gambling, want to change their financial situation a little. But in my opinion those who are vagabonds but poor are too lazy to work and instead of work they want to change their fortunes by gambling. By not working, they put pressure on the family for money and when the family refuses to pay for their gambling, the gambler abuses the family in various ways. But a person who works hard and has enough love for money will never be careless in gambling but he will think about gambling and then gamble.
A rich person that wants to increase their net worth will not gamble their money away.
I can guarantee you that. Just ask a rich person.
Not a poor or middle class person, but a rich person.
They will tell you that gambling is a waste of time.
~snip~
In this case, it can be easily said that both are taking the maximum risk of money from their respective positions and both are satisfied with their position by taking the maximum risk of money. If one person has a total of ten dollars and the other person has a total of one dollar, these two people will gamble based on their money. I have a dollar I used 10 cents to gamble and using 10 cents I gained 10 cents but my total wealth is 1.1 dollars. On the other hand, the one whose total wealth is 10 dollars used one dollar for gambling and by using one dollar he gained another dollar, but his total wealth increased to 11 times. In this case, two people are satisfied from their respective positions. So you have to try to match these things depending on your total amount of money.
In this case, it can be easily said that both are taking the maximum risk of money from their respective positions and both are satisfied with their position by taking the maximum risk of money. If one person has a total of ten dollars and the other person has a total of one dollar, these two people will gamble based on their money. I have a dollar I used 10 cents to gamble and using 10 cents I gained 10 cents but my total wealth is 1.1 dollars. On the other hand, the one whose total wealth is 10 dollars used one dollar for gambling and by using one dollar he gained another dollar, but his total wealth increased to 11 times. In this case, two people are satisfied from their respective positions. So you have to try to match these things depending on your total amount of money.
Yeah, fair enough, you can compare what the rich and the poor have outside of the gambling allocated money.
There is clearly a difference there.
But also, the rich person already is rich, by definition, so there is less incentive to play at casinos.
The rich people source of income are not gambling, they are only having fun with gambling, but the poor are not having fun with gambling but to to win is what they want. Which means the rich people are not desperate when it comes to gambling unlike the poor that want to hit a jackpot.
[/quote
You can say that again please The rich most times gamble for fun,they gamble to develop more cognitive skills that'll pertain to thier emotions towards making bigger approach and transactions.
Rich people are advanced with managing risks and using strategies that makes it possible for them to absent of failures .
Mmm
[/quote
You can say that again please The rich most times gamble for fun,they gamble to develop more cognitive skills that'll pertain to thier emotions towards making bigger approach and transactions.
Rich people are advanced with managing risks and using strategies that makes it possible for them to absent of failures .
Mmm
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